Fred. Olsen Scraps Option for Another Semi at HHI (South Korea)

Fred. Olsen Energy ASA  has decided against declaring the option for a second newbuild semi-submersible at Hyundai Heavy Industries Co.

The option, had it been declared, would have been for another semi-submersible rig of Moss Maritime CS 60 E design from HHI. To remind, the company already has a similar rig under construction at HHI, South Korea.

The rig, named Bollsta Dolphin is expected to be delivered in the first quarter 2015. Upon delivery the harsh environment rig will start its five-year contract with Chevron, west of Shetlands. The contract value is approximately $1.064 billion.
Offshore Energy Today Staff, November 22, 2012